Caribbean hotel occupancy experienced fluctuations in 2024, largely due to the impact of Hurricane Beryl. While the first half of the year saw consistent growth in occupancy, with a peak of 71.3% by June, July saw a decline of 1.9% in occupancy compared to the previous year. This dip was attributed to the direct effects of Hurricane Beryl, which caused significant disruptions across several islands, including Grenada, St. Vincent, and Jamaica.
Despite this setback, the overall performance of Caribbean hotels remains robust. Average daily rates (ADR) and revenue per available room (RevPAR) both increased in July by 3.2% and 1.2%, respectively. For the year to date, ADR rose by 8.3% to $382.05, while RevPAR saw an even greater increase of 12.5% to $272.51.
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Notably, the tourism sector displayed remarkable resilience. ForwardKeys data highlighted a swift recovery in bookings, particularly from the U.S. market, with regions directly impacted by the hurricane rebounding faster than anticipated. This resilience underscores the strong appeal of the Caribbean as a destination, even in the face of natural disasters.
STR’s survey, which covered over 2,100 hotels across the Caribbean, indicates that while the storm had a short-term impact, the region is on track to continue its strong performance through the rest of the year​.
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